... are relatively simple and there is a limited number of licensed technical representatives (agent) or licensed technical representatives (broker) (as the case may be), the IA may, on a case-by-case basis, relax the requirements set out in paragraph 6.4 and allow the business entity to use simplified...

... are relatively simple and there is a limited number of licensed technical representatives (agent) or licensed technical representatives (broker) (as the case may be), the IA may, on a case-by-case basis, relax the requirements set out in paragraph 6.4 and allow the business entity to use simplified...

... third party traffic accident victim (or his/her dependants) who suffers bodily injury or death but is unable to obtain compensation because the driver is uninsured or untraceable. As a result of the legislative changes in 1995 whereby insurance policies are allowed to set a limit on third party...

... Implementation of New Regulatory Regime for Insurance Intermediaries Introduction Currently, insurance intermediaries are regulated by three Self-Regulatory Organizations (“SROs”), namely the Insurance Agents Registration Board set up by The...

... Self-Regulatory Organisations (SROs)1. Under the new statutory regime, the two codes of conduct will specify fundamental conduct requirements expected of them. The draft Codes of Conduct set out eight core General Principles, under which standards and practices are elaborated. When formulating these...

... innovation and spontaneously generate good conduct? Because no market is perfect. Like the human beings who are the actors in it, a market is replete with imperfections and imbalances that if left unchecked could result in unfair outcomes for buyers. Regulation is needed to set parameters...

... of solvency. The solvency margin calculation is set out in Section 10 of the ICO for general insurers, and in the Insurance Companies (Margin of Solvency) Regulation for long- term insurers. 2.1.3 The ICO sets out the requirement for an insurer to maintain separate assets in separate long-term...

...://www.gld.gov.hk/egazette/ http://www.ia.org.hk/ - 2 - (2) Frequently Asked Questions A new set of frequently asked questions (“FAQs”) in relation to anti-money laundering and counter-terrorist financing (“AML/CFT”) is published by the Insurance Authority today. The FAQs published on 15 April 2019 are superseded...

... Ordinance (Cap. 41) (“the Ordinance”). Under the Ordinance, the Insurance Authority (“IA”) has the primary responsibility of ensuring that an authorized insurer is able to meet its liabilities or fulfil the reasonable expectations of policy holders. Adequacy of the technical reserves set aside by an...

... specified in the Insurance (Financial and Other Requirements for Licensed Insurance Broker Companies) Rules (“Broker Rules”) made under the Insurance Ordinance (Cap.41) (“IO”).  The Broker Rules set out the requirements in relation to the following aspects...